The Stingy News Weekly (04/06/2014)
| "there are all kinds of wonderful new inventions that give you
nothing as owners except the opportunity to spend a lot more money
in a business that's still going to be lousy. The money still
won't come to you. All of the advantages from great improvements
are going to flow through to the customers." | |
| - Charlie Munger | |
Stingy Links
Fund risk rating reform
"More importantly, the rating doesn.t adequately inform investors
about the risks that lie ahead during the next credit market
freeze or when the PIMCO managers show their humanity and get some
of their bets wrong. PIMCO is following the rules. But
assessing this as a low risk fund simply shows the inadequacy of the
status quo that so many fund companies have argued to maintain."
Boost after-tax returns
"If you happen to be an investor, you're no doubt looking for
ways to increase your returns. Look no further than your own tax
return. If you can achieve tax savings related to your
investments, this will increase your after-tax returns. So, consider the
following ideas when filing your tax return this year."
Evasive shareholder meetings
"We study the location and timing of annual shareholder meetings.
When companies move their annual meetings a great distance from
headquarters, they tend to announce disappointing earnings
results and experience pronounced stock market underperformance in
the months after the meeting. Companies appear to schedule
meetings in remote locations when the managers have private, adverse
information about future performance and wish to discourage
scrutiny by shareholders, activists, and the media. However,
shareholders do not appear to decode this signal, since the disclosure
of meeting locations leads to little immediate stock price
reaction. We find that voter participation drops when meetings are
held at unusual hours, even though most voting is done
electronically during a period of weeks before the meeting convenes."
DOW 30 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | AT&T (T) | 5 | 5 | 4 | 5 |
| Verizon (VZ) | 5 | 3 | 4 | 5 |
| Intel (INTC) | 4 | 4 | 2 | 5 |
| General Electric (GE) | 2 | 5 | 3 | 5 |
| Chevron (CVX) | 5 | 5 | 5 | 5 |
| Cisco (CSCO) | 3 | 4 | 3 | 5 |
| McDonald's (MCD) | 3 | 1 | 2 | 4 |
| Pfizer (PFE) | 5 | 4 | 1 | 4 |
| Coca-Cola (KO) | 2 | 2 | 1 | 4 |
| Merck (MRK) | 1 | 3 | 1 | 4 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Travelers (TRV) | 5 | 5 | 5 | 2 |
| Pfizer (PFE) | 5 | 4 | 1 | 4 |
| AT&T (T) | 5 | 5 | 4 | 5 |
| Goldman Sachs (GS) | 5 | 5 | 3 | 1 |
| Chevron (CVX) | 5 | 5 | 5 | 5 |
| Verizon (VZ) | 5 | 3 | 4 | 5 |
| IBM (IBM) | 4 | 1 | 3 | 2 |
| EI DuPont (DD) | 4 | 2 | 4 | 3 |
| Exxon Mobil (XOM) | 4 | 4 | 5 | 3 |
| JP Morgan Chase (JPM) | 4 | 5 | 3 | 3 |
| Notes | More Info... |
| Value Ratio Stocks | P/E | P/B | P/S | Yield | V.R. | | AT&T (T) | 5 | 5 | 4 | 5 | 2.02 |
| Verizon (VZ) | 5 | 3 | 4 | 5 | 2.72 |
| Pfizer (PFE) | 5 | 4 | 1 | 4 | 3.12 |
| Chevron (CVX) | 5 | 5 | 5 | 5 | 3.18 |
| Travelers (TRV) | 5 | 5 | 5 | 2 | 3.72 |
| Intel (INTC) | 4 | 4 | 2 | 5 | 4.02 |
| Cisco (CSCO) | 3 | 4 | 3 | 5 | 4.46 |
| EI DuPont (DD) | 4 | 2 | 4 | 3 | 4.87 |
| Exxon Mobil (XOM) | 4 | 4 | 5 | 3 | 5.10 |
| JP Morgan Chase (JPM) | 4 | 5 | 3 | 3 | 5.13 |
| Notes | More Info... |
| US Stock Summary | Yield | P/E | V.R. | | AT&T (T) | Y | Y | Y |
| Chevron (CVX) | Y | Y | Y |
| Pfizer (PFE) | Y | Y | Y |
| Verizon (VZ) | Y | Y | Y |
| Cisco (CSCO) | Y | | Y |
| EI DuPont (DD) | | Y | Y |
| Exxon Mobil (XOM) | | Y | Y |
| Intel (INTC) | Y | | Y |
| JP Morgan Chase (JPM) | | Y | Y |
| Travelers (TRV) | | Y | Y |
| Coca-Cola (KO) | Y | | |
| General Electric (GE) | Y | | |
| Goldman Sachs (GS) | | Y | |
| IBM (IBM) | | Y | |
| McDonald's (MCD) | Y | | |
| Merck (MRK) | Y | | |
| Notes... |
S&P/TSX60 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Crescent Point (CPG) | 1 | 3 | 1 | 5 |
| Canadian Oil Sands (COS) | 4 | 2 | 2 | 5 |
| Penn West Petroleum (PWT) | 0 | 5 | 3 | 5 |
| TransAlta (TA) | 0 | 4 | 4 | 5 |
| BCE Inc. (BCE) | 3 | 1 | 3 | 5 |
| Enerplus (ERF) | 1 | 2 | 2 | 5 |
| Shaw (SJR.B) | 3 | 2 | 3 | 5 |
| CIBC (CM) | 5 | 3 | 3 | 5 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 |
| Fortis (FTS) | 3 | 5 | 3 | 5 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Metro (MRU) | 5 | 3 | 5 | 2 |
| National Bank (NA) | 5 | 3 | 3 | 5 |
| CIBC (CM) | 5 | 3 | 3 | 5 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 |
| Bombardier (BBD.B) | 5 | 1 | 5 | 3 |
| Bank of Nova Scotia (BNS) | 5 | 3 | 2 | 4 |
| Royal Bank (RY) | 5 | 2 | 2 | 4 |
| Manulife (MFC) | 5 | 4 | 3 | 3 |
| Agrium (AGU) | 5 | 3 | 5 | 3 |
| Brookfield (BAM.A) | 4 | 4 | 4 | 2 |
| Notes | More Info... |
| Value Ratio Stocks | P/E | P/B | P/S | Yield | V.R. | | Canadian Oil Sands (COS) | 4 | 2 | 2 | 5 | 2.21 |
| National Bank (NA) | 5 | 3 | 3 | 5 | 2.48 |
| CIBC (CM) | 5 | 3 | 3 | 5 | 2.49 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 | 2.86 |
| Bank of Nova Scotia (BNS) | 5 | 3 | 2 | 4 | 3.15 |
| Royal Bank (RY) | 5 | 2 | 2 | 4 | 3.35 |
| Rogers (RCI.B) | 4 | 1 | 3 | 4 | 3.46 |
| BCE Inc. (BCE) | 3 | 1 | 3 | 5 | 3.65 |
| Shaw (SJR.B) | 3 | 2 | 3 | 5 | 3.73 |
| Power Corp of Canada (POW) | 4 | 5 | 5 | 4 | 3.84 |
| Notes | More Info... |
| Canadian Stock Summary | Yield | P/E | V.R. | | Bank of Montreal (BMO) | Y | Y | Y |
| CIBC (CM) | Y | Y | Y |
| BCE Inc. (BCE) | Y | | Y |
| Bank of Nova Scotia (BNS) | | Y | Y |
| Canadian Oil Sands (COS) | Y | | Y |
| National Bank (NA) | | Y | Y |
| Royal Bank (RY) | | Y | Y |
| Shaw (SJR.B) | Y | | Y |
| Agrium (AGU) | | Y | |
| Bombardier (BBD.B) | | Y | |
| Brookfield (BAM.A) | | Y | |
| Crescent Point (CPG) | Y | | |
| Enerplus (ERF) | Y | | |
| Fortis (FTS) | Y | | |
| Manulife (MFC) | | Y | |
| Metro (MRU) | | Y | |
| Penn West Petroleum (PWT) | Y | | |
| Power Corp of Canada (POW) | | | Y |
| Rogers (RCI.B) | | | Y |
| TransAlta (TA) | Y | | |
| Notes... |
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